Chung-Ang University Business School has roots in the Commerce Division, and was established in 1948 when Chung-Ang College was founded. In 1953, Chung-Ang College was given full accreditation as a University, and the Commerce Division was reorganized as the College of Business and Economics.

In 1955, the Department of Business Administration was established in the College of Business and Economics as the first independent academic unit for business education at the undergraduate level in Korea. Four years later, in 1959, the first group of students were graduating with a degree related to the Department of Business Administration. In 1968, the College of Business and Economics split into the College of Business Administration and the College of Public Administration. This was the first time in Korean history that such administrations existed. The College of Business Administration offered both undergraduate and graduate degree programs in business including Bachelor, Master and Ph.D. degrees in business Administration.

In 2007, the Graduate School of Business was established. This program offered MBA and non-degree executive programs, and joined the College of Business Administration to form the current system of Chung-Ang University Business School.

Due to university-wide structural change in 2010, the College of Business Administration was dissolved and integrated into the College of Business and Economics as the Department of Business Administration. CBS consists of the Department of Business Administration in the College of Business and Economics, which offers academic degree programs at the undergraduate and graduate level, and the Graduate School of Business, which offers MBA and non-degree executive programs.

The governing body of CBS is the Business Administration Council, for which the Deans of the College of Business and Economics and the Graduate School of Business and the Director of the Department of Business Administration are members.